Nasdaq, S&P 500 Futures Open The Week On Edge As Earnings, Tariffs, Fed Decision Loom: Why META, NVDA, RVMD, USAR Are On Traders' Radar Today

Retail sentiment has turned sharply bearish for SPY and QQQ on Stocktwits.

• Wall Street traders weigh mega-cap earnings, Trump’s tariff threats on Canada, and the Federal Reserve’s upcoming policy decision.
• Safe-haven flows into gold and silver signal growing risk aversion across markets.
• Power stocks remain in focus amid extreme winter weather, which is boosting electricity demand.

U.S. stock futures were lower early Monday, as investors gear up for an earnings-heavy week (Tesla, Microsoft, Meta, Apple) amid trade tensions between the U.S. and Canada and looming government shutdown fears. Traders are also watching for the Federal Reserve’s first policy decision and a potential ruling on the validity of tariffs, later this week.

Over the weekend, President Donald Trump warned of 100% tariffs on Canadian exports if they were to go ahead with a free-trade deal with China. Canadian Prime Minister Mark Carney has responded, saying that Ottawa has “no intention” of pursuing such an agreement. 

As of 3:00 a.m. ET on Monday, the S&P 500 and Dow futures fell 0.1%, and the Nasdaq and Russell 2000 futures were down 0.2%. 

Meanwhile, retail sentiment toward the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, was back to ‘extremely bearish’ from 'bearish’ last week, and the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq 100 Index, has remained ‘bearish,’ amid high message volumes. Both SPY and QQQ were among the top trending tickers on Stocktwits at the time of writing. 

Safe-haven demand pushed gold to record highs above $5,100 an ounce, and silver continued its rally after recently clearing $100 an ounce. Silver stocks such as Hecla Mining (HL), First Majestic Silver (AG), and Avino Silver & Gold Mines (ASM) were garnering heavy retail attention on Stocktwits. 

Trending Stocks To Watch

Meta Platforms (META): Sued by an international group of plaintiffs for misleading privacy claims regarding WhatsApp’s end-to-end encryption. The stock could face pressure as it gears up to report earnings this week.

Revolution Medicines (RVMD) & Merck (MRK): Reports suggest that acquisition talks with Merck, valued at roughly $30 billion, have halted due to price disagreements. Despite the setback, Stifel said it expects buyers to step in on weakness, reiterating a Buy rating with a $170 price target.

USA Rare Earth (USAR): The Trump administration plans to invest $1.6 billion for a 10% stake in the company. Watch out for other rare-earth plays like UAMY and CRML, too. 

Samsung (SSNLF) & Nvidia (NVDA): Samsung is reportedly entering the final qualification phase for its HBM4 AI memory chips with Nvidia, with mass production slated for February.

Power stocks such as Constellation Energy (CEG), Vistra (VST), and Generac (GNRC) remain in the limelight as extreme winter weather drives power demand. Reports suggest that PJM is locking in power purchases through Jan. 31 to secure natural gas supplies ahead of an expected deep freeze. 

Eisai (ESALY) and Biogen (BIIB): The FDA accepted for review Eisai’s supplemental application for a subcutaneous autoinjector version of Leqembi, granting Priority Review with a PDUFA date of May 24, 2026.

Volkswagen (VWAGY): Reports suggest it will not proceed with plans to build an Audi factory in the U.S. unless auto tariffs are reduced.

Other tickers trending on Stocktwits at the time of writing included Brand Engagement Network (BNAI), Corvus Pharmaceuticals (CRVS), Immunity Bio Inc (IBRX), and Sarepta Therapeutics (SRPT), among others. 

And in other news, SoftBank has reportedly halted talks to fully acquire U.S. data-center operator Switch, shelving a proposed $50B deal tied to Masayoshi Son’s Stargate AI ambitions. 

Other Catalysts To Watch

On the economic front, traders will monitor the durable goods orders release at 8:30 am. 

• 08:30 ET: Durable Goods Orders
• 08:30 ET: Chicago Fed National Activity Index
• 10:30 ET: Dallas Fed Manufacturing Index
• 13:00 ET: U.S. 2-Year Treasury Auction

And on the earnings radar, investors will be watching for the quarterly reports from Steel Dynamics (STLD) and Baker Hughes (BKR) before the bell. While Nucor (NUE), W.R. Berkley (WRB), Western Alliance (WAL), and Alexandria Real Estate (ARE) report after market close, among others, later today. 

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